Hyperwave announced it will wind down operations by December 16, citing unsustainable operating costs and regulatory uncertainty. The protocol's vaults have already been switched to withdraw-only mode, with GWAVE staking positions able to be unstaked at any time. Users are advised to extract funds before the shutdown date for the fastest access; remaining net value will subsequently be returned to wallets holding vault tokens. During the transition period, vaults will continue generating yield while converting deposits into underlying assets to facilitate withdrawals. One hundred percent of vault revenue accrued prior to shutdown will be allocated to HWAVE token buybacks and burns. Hyperwave warned users about phishing links and directed them to Discord or in-app support channels for assistance.